27 août 2011 14

ECB: no more bets! More…

Rédigé par jp-chevallier dans la rubrique Banques : Banques Européennes

The situation is out of control in the euro zone, as I have been writing it for a while…

The interbank market does not work because euro-zone banks managers have lost confidence in other banks.
So they keep their cash in US$ rather than lending it to other banks that need it as they would in normal times: ECB had loaned $5 million to a bank on August, 25,
Document 1:

ECB had previously loaned $500 million (USD) last August 17 at this bank that might be in default, as last year’s May 6.This caused a flash-crash in U.S. markets,
Document 2:

Which means that this beneficiary bank could not repay the loan at maturity.

The problem is serious.
Most disturbing is the paltry amount of money, which shows that while the interbank system is completely blocked (the bankers know very well that all is very bad) and that ECB has really nothing in its reserves, i.e. no foreign currency (in dollars) in reserves.

The swap lines that were concluded and renewed should avoid another crash but not the crisis in the euro zone.

I am grateful to the reader of my site that gave me this information (in commentary).

Click here to read my previous article on this and click here to access to the ECB page giving this information that nobody has noted, to my knowledge.

Mots-clés: , , , , , , , ,

14 réponses à “ECB: no more bets! More…”

  1. Pierre dit :

    Bonjour
    un autre économiste: François Chevallier écrit lui que les ménages américains sont en situation saine (justifié avec des chiffres) et qu’en conséquence il n’y aura pas de double dip, que les bourses vont remonter après un excès de baisse
    lire son site http://www.vpfinance.com/index-home.asp
    qu’en pensez vous ?
    l’un de vous deux a tort, mais lequel ?
    cordialement

  2. [...] writing on Business économiste monétariste behavioriste discusses the stetup in his latest post ECB: no more bets! More… The situation is out of control in the euro zone, as I have been writing it for a [...]

  3. [...] writing on Business économiste monétariste behavioriste discusses the stetup in his latest post ECB: no more bets! More… The situation is out of control in the euro zone, as I have been writing it for a [...]

  4. BA dit :

    « En Europe, les Etats doivent régler le problème de leur dette et les banques ont besoin d’une recapitalisation urgente. »

    (Christine Lagarde, samedi 27 août 2011)

    http://www.romandie.com/news/n/_L_economie_mondiale_fait_face_a_des_risques_croissants_270820111908.asp

  5. Stan dit :

    Bonjour,

    A moins que je ne me trompe, je ne comprends pas où vous voyez que la BCE a prêté 5mn $.

    « Minimum bid » ne signifie pas que la BCe a alloué 5mn, mais simplement qu’elle ne prêt rien en dessous de 5mn. C’est un seuil.

    Lorsque la BCE a prété 500mn a une banque, elle le stipule bien plus précisément : « Tot Amount Allotted: 500 mn » (voir ici : http://www.ecb.europa.eu/mopo/implement/omo/html/USD11033_all.en.html )

    En fait, votre premier screenshot ne correspond pas au communiqué de la BCE sur le résultat de l’opréation, mais seulement l’annonce préalable.

    L’annonce est ici : http://www.ecb.europa.eu/mopo/implement/omo/html/USD11034_ann.en.html
    Le résultat ici : http://www.ecb.europa.eu/mopo/implement/omo/html/USD11034_all.en.html

    Et dans aucun des deux cas je ne vois de 5 millions alloués.

    Bref, je pense que vous faites une erreur d’inattention… ce qui explique pourquoi personne d’autre n’a « relevé » l’info ;)

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